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| Staff of the Vietnam Bank for Social Policies talk with borrowers in Hai Rieng town (Song Hinh district) about the social housing loan program. Photo: LE HAO |
Talking to Phu Yen Newspaper reporter about the above policy, Mr. Ho Van Thuc, Director of the Social Policy Bank, Phu Yen branch (NHCSXH Phu Yen) said:
- Currently, the Phu Yen Social Policy Bank is implementing a social housing loan program according to Decree 100/2024/ND-CP of the Government with a preferential interest rate of 6.6%/year. This is a credit program to support low-income people and policy beneficiaries to access capital to buy, rent-purchase social housing, build new or repair houses.
Customers can borrow up to 1 billion VND, with a loan term of up to 25 years depending on the agreement between the bank and the borrower, ensuring that it is suitable for each customer's ability to repay. This policy is actively contributing to improving people's living conditions.
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| Mr. Ho Van Thuc |
* Who are the beneficiaries of preferential loan policies in this program, sir?
- The subjects eligible for loans under Decree 100/2024/ND-CP are quite diverse, including people with revolutionary contributions, relatives of martyrs; poor and near-poor households in rural areas; poor and near-poor households, low-income people in urban areas; workers and laborers working at enterprises, cooperatives, and cooperative unions inside and outside industrial parks; cadres, civil servants, and public employees; officers, professional soldiers, non-commissioned officers of the People's Armed Forces, police workers, civil servants, defense workers and public employees currently serving in the army; people working in secretarial work, people working in other secretarial organizations receiving salaries from the state budget currently working...
All customers must have a stable income and the ability to repay the debt as committed to the People's Credit Fund; at the same time, they must fully comply with the loan procedures and guarantee the loan according to regulations.
* Many customers believe that the social housing loan interest rate at the Vietnam Bank for Social Policies is higher than the preferential interest rate for home purchase, construction, and home repair loans at commercial banks. What is your opinion on this issue?
- The interest rate for social housing loans according to Decree 100/2024/ND-CP is equal to the interest rate for loans to poor households as prescribed by the Prime Minister in each period. Currently it is 6.6%/year.
By the end of May 2025, the total outstanding debt of the social housing program of the Phu Yen Social Policy Bank reached nearly 215 billion VND, with 714 customers still in debt. These are figures that show the clear effectiveness of the policy when put into practice in real life...
This lending interest rate has been summarized, evaluated, and carefully calculated by the competent authority during the process of drafting the Government's decree; the draft decree has been widely consulted with ministries, branches, localities, and people to complete and appraise before submitting to the Government for promulgation according to regulations. This is a reasonable interest rate, viewed from a stable and long-term perspective, with a loan term of up to 25 years, helping low-income people feel secure in borrowing capital, having time to arrange finances to repay the debt according to the agreement.
* Could you please tell us about the results of the social housing loan program in Phu Yen recently?
- Since its implementation, the demand for loans to build new and repair houses in Phu Yen has been very high. In 2024, the total sales of loans for building and repairing houses reached nearly 33 billion VND, with 76 customers receiving loans. In the first 5 months of this year, the branch continued to disburse 12 billion VND to 30 customers.
By the end of May 2025, the total outstanding debt of the social housing program of the Phu Yen Social Policy Bank reached nearly 215 billion VND, with 714 customers still in debt. These figures show the clear effectiveness of the policy when put into practice, creating conditions for many families to settle down, stabilize their lives and develop the economy.
* To implement the policy more effectively in the coming time, what solutions does the Phu Yen Social Policy Bank have, sir?
- Recently, the Phu Yen Social Policy Bank issued an official dispatch on strengthening the implementation of social housing loans according to Decree 100/2024/ND-CP of the Government. In particular, the branch requested transaction offices and professional departments to coordinate with local agencies and units, commune-level People's Committees, and mass organizations to strengthen propaganda and publicize the procedures and regulations on preferential loan policies for purchasing, leasing social housing, housing for the People's Armed Forces; building new or renovating and repairing houses for living to beneficiaries and people in the area. At the same time, advise the commune-level People's Committee to review loan borrowers, promptly confirm the borrowers and conditions for preferential loans according to regulations; direct entrusted mass organizations, savings and loan groups to guide the establishment of loan application procedures, and timely consider loans according to the assigned credit plan.
In addition, we continue to improve service quality at transaction points, improve the application appraisal process, and shorten disbursement time.
In 2025, we aim to more strongly implement the social housing loan program. The branch has registered a capital growth plan of 40 billion VND and together with the capital recovered from the round loan, it is expected to meet the needs of borrowers in the area.
* Thank you!
Source: https://baophuyen.vn/tin-dung-chinh-sach-xa-hoi/202506/tao-dieu-kien-cho-nguoi-thu-nhap-thap-an-cu-f491d59/
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